Brainly Closes $80 Mn In Series D Round Led By Learn Capital The fresh funds will be utilized to bring new products to the Brainly community for both students and their parents and expand in Brazil and Indonesia
You're reading BIZ Experiences Asia Pacific, an international franchise of BIZ Experiences Media.
New York-headquartered Brainly, a learning platform, has announced that it has completed raising $80 million in Series D round of funding led by existing investors such as Learn Capital and included Prosus Ventures, Runa Capital, MantaRay, and General Catalyst Partners. So far the firm has raised around $150 million in funding.
The fresh funds will be utilized to bring new products to the Brainly community for both students and their parents. Globally, Brainly will expand its presence in Brazil and Indonesia.
Founded in 2010 by Michal Borkowski, the edtech company was established to directly support students and their parents. At Brainly.com and its group of websites and apps around the world, students connect their peers and experts to both receive and offer help with homework problems and questions.
Vinit Sujhija, partner at Learn Capital said that Brainly has become one of the world's largest learning communities, achieving significant organic growth in over 35 countries.
"This growth is a testament to the strength of the community and a user experience that enables students and families to succeed given their varied learning needs. Learn Capital is excited to support the Brainly team as it executes on an ambitious product roadmap en route to becoming a household name, both in the United States and around the world," he added.
Commenting on the growth, Borkowski said, " While Brainly has demonstrated a high rate of growth for years, over the past six months, we have achieved growth milestones that we had projected to hit over the next few years. We receive immensely positive feedback from students, parents, and teachers using Brainly, so there are no signs of this growth slowing down anytime soon."
The edtech platform is being used by more than 350 million students, parents, teachers every month. The firm has noted that since April, its user base has shot up by 75 per cent.
